A top official in the Monetary Authority of Singapore has stressed that the promotion of the island’s Islamic finance industry remains key, even though two tax incentives aimed at promoting it were allowed to lapse recently.
"Like all our tax incentives, they [had] a fixed tenure, in this case, of five years,” Ng Nam Sin, assistant managing director of the MAS, told an audience at an Islamic finance event in Singapore on Tuesday morning. “It is useful to note that Islamic Finance activities will continue to be incentivised, alongside conventional finance activities, under our other existing schemes,” he added...............................................Full Article: Source